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by tonyarkles
816 days ago
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> customers end up paying in the end. Not in a transparent way, generally speaking. And at least in Canada you couldn't even (as a business) add a credit card surcharge to a purchase price. Now you can, so long as you're simultaneously complying with the legislation (https://www.canada.ca/en/financial-consumer-agency/services/...) and your contract with your payment processor (e.g. https://www.visa.ca/content/dam/VCOM/regional/na/canada/Supp...). Apparently, too, merchants aren't actually charged for Apple Pay, it's the banks themselves that are. Merchants apparently pay the regular charge to their payment processor whether I use my Visa-through-Apple Pay or my Visa as a physical card. https://paymentdepot.com/blog/apple-pay-fees-for-merchants/ At any rate, Apple Pay is ridiculously convenient compared to anything my bank has ever come up with. The last time there was a Pay With Bank $X thing on a website that I tried, I ended up getting directed through some kind of Verified by Visa thing where they were asking for some kind of security code that I don't recall ever setting up. Or... I can double-tap the power button on my phone to verify a payment I'm making on my laptop. If the banks are unhappy about giving a cut to Apple, my recommendation to them would be: Suck Less. |
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There are ways to get around that.
For example, a bank could offer partial rewards for using their payment system, over Apple's. The effect would be the same as passing on the savings to the consumer.